RON95 to be capped at RM2.20
The weekly fuel price float will see RON95 petrol capped at a certain price even if the market price goes up, says Finance Minister Lim Guan Eng. The system is expected to be in place within the first week of the year. New retail prices for petroleum products would be announced after the Cabinet meeting today. Lim had earlier said the retail prices of fuel would be unchanged – RON97 (RM2.50), RON95 (RM2.20) and diesel (RM2.18) per litre. The implementation of the weekly price float was delayed because of objections from the Petrol Dealers Association of Malaysia. The weekly price mechanism would be in place until the fleet card system was introduced for B40 Malaysians to buy subsidised RON95 petrol. (The Star Online)

UEM Sunrise aims for RM1.2 billion sales next year
UEM Sunrise Bhd is looking to maintain its sales target of RM1.2 billion next year amidst challenging market conditions, following the launch of Hyatt House Kuala Lumpur in Mont’Kiara. Hyatt House is the hotel component in Arcoris, a RM1.2 billion mixed-use development with another four components, including business suites, SoHo units, serviced apartments and retail plaza. Managing director and CEO Anwar Syahrin Abdul Ajib revealed that new projects for UEM Sunrise are in various stages of planning. “There are some new phases in Serene Heights; we have got Aspira Park Homes and some shoplots in Gerbang Nusajaya; we are doing design work on our Kepong project; and so, hopefully, by the end of next year, we will launch it.” UEM Sunrise acquired 72 acres in Kepong for a mixed-use commercial development, with an estimated gross development value of RM15 billion. (The Edge Markets)

Penang property market still robust despite oversupply, says official
The rise in unsold homes in Penang will not adversely affect the property market here, said Jagdeep Singh Deo. The local government, housing development and town and country planning committee chairman said the housing sector in Penang is still performing well despite reports of overhang in the country. “We hope that in 2019, we will see more federal-initiated affordable housing programmes and measures for first-time home buyers,” he said. He said the Penang state government has surpassed its election pledge to build 76,000 units of affordable housing in the next five years, with 97,000 units built to date. (Malay Mail)

Guan Eng: Malaysia needs three years to restore fiscal health
Malaysia will require three years to restore its fiscal health and take its position as “the most promising emerging economy” to achieve high-income status, said Finance Minister Lim Guan Eng. He noted Bloomberg had already placed Malaysia at No 1 among the top 20 emerging economies in the world and all three international credit rating agencies, despite the need to clean up the “financial mess” caused by the previous government, maintained the country’s ratings. “Our economy can roar again and Malaysians [can] be respected globally,” added Guan Eng, saying economic growth and prosperity enjoyed by all were the best antidote to the “poisonous politics of polarisation, exploiting racism and religious extremism that threaten Malaysian polity”. (The Edge)

Smokers lament lack of specifics in newly-enforced smoking ban
Smokers were shocked, confused and irritated by the smoking ban on eateries which came into force yesterday, but said they will comply for the sake of public health. Checks on several eateries in Kota Damansara, Petaling Jaya, and Mutiara Damansara found only a few smokers who did not comply with the smoking ban and some of them felt that details about the ban were still lacking. “I know many smokers are not keen on the idea as many find the ban confusing but it would be better if the government clearly define where we can or cannot smoke. It would save everyone a lot of grief,’’ said a smoker when interviewed. Another concerned smoker questioned the ruling that allows smokers to puff three metres away from restaurants as it was not explained in detail. Anyone found guilty of the offence of smoking in banned areas can be fined up to RM10,000 or jailed up to two years. (Malay Mail)